Quitclaim Deeds transfer only the interest that the Grantor has to the new owner, the Grantee. If the Grantor has no interest then no interest is transferred.
In the situation with the Bowen Ranch, we conducted extensive research concerning the interest in the Bowen Ranch buildings and 40 acres prior to purchasing the interest from the New York owners.
We went to the library and reviewed all the old news articles on microfilm about the court case in the late 1970's. We went to the courthouse in San Bernardino and researched the old court case on microfilm. We reviewed the real estate records and dataquick records.
We came to the conclusion that there was an interest in the Bowen ranch house and 40 acres that still belonged to the New York owners. We believe that they even forgot about this separate parcel. It was a long time ago when the court case occurred. They hadn't paid property taxes for many years according to the county records.
It is my extensive knowledge of real estate that gave me the basis for determining that there really was an interest in the Bowen Ranch and 40 acres that still belonged to the New York owners that DCHS, Inc. could purchase that interest. The New York Owners transferred their interest to DCHS, Inc.
Most people would not have sufficient knowledge of real estate to recognize this type of interest. It is highly unusual. However, I started my career in real estate when I was nineteen. I worked for numerous mortgage companies and savings and loans. I have professional knowledge about both residential and commercial real estate. I went to night school to study for my broker's license. I received my broker's license in my early 30's.
The Moon is Waxing Gibbous (88% of Full)
Re: Quitclaim Deed ;defined
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